While there’s no law that absolutely requires you to have a home insurance policy in place. The great majority of lenders will require some amount of home insurance before issuing a home loan banks that provide mortgages want to make sure that their investments are protected. And so home insurance is often their requirement in order to proceed with a loan. Now, of course, most homeowners carry a home insurance policy because they can’t afford to pay for catastrophic damage out of pocket right now without insurance, a fire or a tornado could result in a total loss for those of you that are able to purchase a home without needing a mortgage. It is still a big risk to forego carrying home coverage for any length of time. So before making this kind of decision, speak with an insurance professional, I mean, who knows? You may be able to find coverage for much less than you think.
We’d be happy to review your insurance coverage options with you! Give us a call at (512) 931-2591 or visit https://townsendinsuranceagency.com.